KLP Kapitalforvaltning AS Reduces Stock Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in C.H. Robinson Worldwide by 45.4%, selling 29,600 shares and now owning 35,560 shares valued at $3,660,000.
• C.H. Robinson Worldwide reported $1.17 EPS for the quarter, exceeding analysts' estimates, although revenue decreased 8.3% year-over-year, totaling $4.05 billion.
• The company declared a quarterly dividend of $0.62 per share, resulting in a yield of 2.41% and a payout ratio of 59.33%.

KLP Kapitalforvaltning AS decreased its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 45.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,560 shares of the transportation company's stock after selling 29,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in C.H. Robinson Worldwide were worth $3,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRW. North Capital Inc. acquired a new stake in C.H. Robinson Worldwide during the first quarter worth approximately $25,000. NBC Securities Inc. acquired a new stake in C.H. Robinson Worldwide during the first quarter worth approximately $27,000. First Financial Corp IN acquired a new stake in C.H. Robinson Worldwide during the first quarter worth approximately $31,000. Proficio Capital Partners LLC acquired a new stake in C.H. Robinson Worldwide during the fourth quarter worth approximately $33,000. Finally, AdvisorNet Financial Inc grew its position in C.H. Robinson Worldwide by 252.1% during the first quarter. AdvisorNet Financial Inc now owns 419 shares of the transportation company's stock worth $43,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Buying and Selling at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Angela K. Freeman sold 5,700 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $97.42, for a total value of $555,294.00. Following the completion of the sale, the insider directly owned 71,441 shares in the company, valued at $6,959,782.22. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.47% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CHRW. Jefferies Financial Group cut their target price on C.H. Robinson Worldwide from $110.00 to $100.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Citigroup upped their target price on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI dropped their price target on C.H. Robinson Worldwide from $119.00 to $110.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on C.H. Robinson Worldwide from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Susquehanna reissued a "positive" rating and set a $120.00 price target (up from $115.00) on shares of C.H. Robinson Worldwide in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.29.

C.H. Robinson Worldwide Price Performance

Shares of CHRW traded down $0.46 during mid-day trading on Friday, reaching $102.71. 1,416,860 shares of the stock traded hands, compared to its average volume of 997,261. The firm has a fifty day moving average price of $96.76 and a 200 day moving average price of $97.22. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. C.H. Robinson Worldwide, Inc. has a 1 year low of $84.68 and a 1 year high of $114.82.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.15. C.H. Robinson Worldwide had a net margin of 2.93% and a return on equity of 35.37%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm's quarterly revenue was down 8.3% compared to the same quarter last year. As a group, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, June 6th. C.H. Robinson Worldwide's dividend payout ratio (DPR) is 59.33%.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.